Energy XXI Revenues Boom During Quarter
Bermuda’s Energy XXI (EXXI) announced its quarterly results this week, reporting $0.76 earnings per share for the quarter.
The company’s quarterly revenue was up 97.8 percent on a year-over-year basis.
Incorporated in Bermuda, with its principal operating subsidiary headquartered in Houston, Energy XXI [Bermuda] Limited is an independent oil and natural gas exploration and production company with operations focused in the United States Gulf Coast and the Gulf of Mexico.
As of June 30, 2010, the company’s estimated net proved reserves were 75.6 million barrels of oil equivalent, of which 63 percent was oil and 70 percent was proved developed. The company operates or has an interest in 287 producing wells in 51 producing fields.
In November 2009, Energy XXI acquired certain Gulf of Mexico shelf oil and natural gas interests from MitEnergy Upstream LLC, a subsidiary of Mitsui & Co., Ltd.
